$5,450,000

For sale

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1395 Gerrard Street East, Toronto (Greenwood-Coxwell) - Retail for Sale

1395 Gerrard Street East, Toronto (Greenwood-Coxwell), Ontario, M4L1Z3

7 parking11,000 ft²50 × 120 ft (6,008 sq ft) lot sizeListed 159 days ago

Overview

This retail property in Toronto is for sale offering roughly 11,000 sq ft of space.

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Description

Live in one of the units or Live/Work in the same building or Rent all. Excellent investment opportunity with a cap rate of 5.39%! 20 Residential Units with a mix of 4 x Studios, 11 x 1 Bedroom, 5 x 2 Bedrooms units and a commercial store with lease ending end of 2026. Currently 2 vacant units (1x1BR, 1x2BR) allowing for possible renovations to attract a higher rent. Great mix for income stability and potential for value and rental appreciation - see attached for Property Proforma. Currently self managed (proforma shown with a property management company) with a cleaning/maintenance person. Mostly month to month tenancies. This area is part of the Greenwood-Coxwell and Leslieville neighbourhoods, known for their vibrant and trendy atmosphere. Popular high demand area due to a high Walk score of 93, a Transit score for 73, and a Bike Score of 79. Allows easy access to run errands and daily living with great transit to the downtown core if needed. The neighbourhood is packed with boutique shops, gourmet restaurants, and lively cafes, making it a hotspot for food lovers and shoppers. Residents enjoy easy access to parks and beaches, offering great outdoor spaces for relaxation and recreation. The area has a mix of historic charm and modern conveniences, making it a desirable place to live. Close to many schools in the area providing a mix of academic, technical, and arts-focused programs. See attached floor plans - not exactly as shown as some kitchens may have been altered. Major renovation and new addition done in 2012 with permits. See upgrades/updates on attached document. (id:66096)

Property Details

MLS®: E13214726
Property Type: Retail
Zoning: CR 2.0 (c1.0; r2.0) SS2 (x1573)
Parking: 7
Interior Size: 11,000 ft²
Lot Size: 50 × 120 ft (6,008 sq ft)
Frontage: 50 ft
Heating: Other
Cooling: Partially air conditioned
Garage: Other
Property Tax: $24,891.33/yr
Listed: 159 days ago

Services

Water: Municipal water

Features and services as supplied by the listing brokerage.

Market Timing

Days on market

159d

Toronto (Greenwood-Coxwell) listings, avg age

51d

Price / ft²

$495

List price

$5.45M

Homes here sell faster than most markets

Sold homes in this market spent an average of 33 days on the market over the past year, against a median of 48 days across the markets we publish.

Homes here sell below asking price

Homes in this market sold for an average of 94.6 percent of their asking price over the past year, below the 96.4 percent median across the markets we publish.

Haho

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Listed by KELLER WILLIAMS PORTFOLIO REALTY · ROBERT WONG

Location

Approximate location — exact address confirmed upon showing

Nearby Places

Area context

Neighbourhood profile (M4L)

This home lists at $5,450,000, about 54.0× the local median household income of $101,000.

Carrying it typically needs a household income of about $1,064,576 (20% down, 25-yr amortization, stress-tested) — roughly 954% above the area median.

Median household income: $101,000
Population: 32,218
Median age: 40.8
Owner / renter: 61% / 39%
Avg. household size: 2.3

Source: Statistics Canada, 2021 Census (FSA M4L)

$5,450,000· $495/ft²

For sale

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